Shell

Oil & Gas

Shell produces first oil on Malaysian platform

Oil giant Shell has produced its first oil from the Gumusut-Kakap floating platform off the coast of Malaysia. It is the latest in a series of Shell deep-water contracts and the platform is expected to reach an annual production of around 135,000 barrels per day (bpd) once fully ramped up.

Oil & Gas

Shell launches sea bed rescue for lost container

A sea bed rescue has been launched by Shell after a large container plunged into the North Sea from its Brent Alpha platform. The container is still to be retrieved, but has been placed on the sea bed at a depth of 140 metres by personnel after the Normand Subsea Dive Support Vessel (DSV) was brought in to retrieve it.

Markets

UK’s FTSE 100 Index falls for third day as Shell, BP lead drop

UK stocks declined for a third day, their longest streak of losses in a month, as oil companies led the benchmark FTSE 100 Index lower. Royal Dutch Shell Plc’s Class B shares, which have a UK source for tax purposes, slid 1.6%. BP Plc retreated 1%. Wm Morrison Supermarkets Plc gained 2.9% as Citigroup Inc. recommended buying the stock. Quindell Plc gained 5.6% after saying a court ruled in its favour in libel proceedings against short seller Gotham City Research LLC.